BTL mortgages reach 18 month high

The number of people applying for Buy to Let mortgages has reached an 18 month high, according to haart.

Related topics:  Mortgages
Millie Dyson
1st June 2012
Mortgages
New figures from the independent estate agent show that the percentage of buy to let mortgages processed in May reached 19.6% (or one in five of all mortgage applications processed by the company). What’s more, two out of three landlords are now choosing fixed rate products, with over half choosing two year deals.
 
haart has a network of mortgage advisors based throughout its branch network backed by a team of support staff at the company’s national headquarters.

David Miles, Managing Director of haart Financial Services, says:

“With the base rate continuing to remain at a record low, more people than ever are choosing Buy to Let property as alternative to other forms of investment, driven in part by the healthy yields they can achieve. This is being helped by increased competition between lenders and with it an ever growing availability of products for this particular segment of the market – something which we as company certainly welcome.”
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